We peaked at 426 bp on Friday and have dipped to 402 bp this morning after Japan offered to buy European bonds and the ECB stepped into the secondary market.
EUR/USD has been supported by the stalling momentum for an immediate Portuguese bailout.
They are far from out of the woods yet, but a two-way market has been reestablished in EUR/USD after the market got very one-sided late last week and to open this week.
Stops are situated above 1.3000 and may move very tempting if topside momentum can be regained.
